Shift in policy direction due to reduced enforcement, expanded ETF approvals, and strengthened cooperation with the CFTC
);)
Since taking office as chair in April, Atkins has largely suspended civil enforcement and investigations against virtual asset companies, approved several virtual asset-linked exchange-traded funds (ETFs), and strengthened regulatory cooperation with the Commodity Futures Trading Commission (CFTC).
The SEC also made clear its stance toward deregulation by issuing interpretation guidelines stating that many virtual assets are not considered securities under federal law. This is seen as a significant departure from the regulation-centric policies strengthened during the Biden administration.
These changes occurred in conjunction with the policy stance of President Donald Trump. During the 2024 presidential election campaign, Trump pledged to support the virtual asset industry and oppose central bank digital currencies, and following his election, a shift in regulatory direction began in earnest.
Atkins stated in an interview with CNBC on the 21st, "The SEC has shifted in a new direction, moving away from regulatory uncertainty and excessive enforcement-centered practices."
However, criticism was raised by the Democratic Party regarding the reduction in the SEC's enforcement. In a letter on the 15th, Massachusetts Senator Elizabeth Warren pointed out the weakening of the agency's accountability, noting that the number of SEC enforcement cases has fallen to its lowest level in the last 10 years.
Concerns are being raised within Congress that deregulation could lead to conflicts of interest, and the passage of the virtual asset market structure bill is expected to serve as a key variable in the SEC's policy direction.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
